1 00:00:03,880 --> 00:00:06,600 Speaker 1: It's Friday, the twenty third of January twenty twenty six. 2 00:00:06,680 --> 00:00:09,440 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,480 --> 00:00:11,240 Speaker 1: where we give you the top five business stories you 4 00:00:11,280 --> 00:00:13,760 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,800 --> 00:00:15,000 Speaker 1: and good morning, Sean Aylmer. 6 00:00:15,160 --> 00:00:16,680 Speaker 2: Good morning, Michael, Sean. 7 00:00:16,800 --> 00:00:19,680 Speaker 1: Five stories, five minutes. Let's go Story number one. A 8 00:00:19,840 --> 00:00:23,120 Speaker 1: jump in employment and a drop in the unemployment rate 9 00:00:23,520 --> 00:00:26,600 Speaker 1: has boosted the chance of an interest rate hike next 10 00:00:26,640 --> 00:00:29,639 Speaker 1: month as a reserve bank works to keep inflation in check. 11 00:00:30,000 --> 00:00:32,519 Speaker 2: More than sixty two thousand people found work in December, 12 00:00:32,520 --> 00:00:35,040 Speaker 2: according to the Bureau of Statistics, pushing the unemployment rate 13 00:00:35,080 --> 00:00:38,840 Speaker 2: down to four point one percent. The participation rate rose, 14 00:00:38,960 --> 00:00:43,840 Speaker 2: the underemployment rate fell, the number of hours worked increased. 15 00:00:44,200 --> 00:00:48,120 Speaker 2: All pretty good. The strong figures pushed bond yields higher, 16 00:00:48,240 --> 00:00:50,720 Speaker 2: and investors have now priced in a fifty percent chance 17 00:00:50,720 --> 00:00:53,760 Speaker 2: of a rate height next month one hundred percent chance 18 00:00:53,800 --> 00:00:56,560 Speaker 2: that would increase in May. Now, the Reserve Bank keeps 19 00:00:56,560 --> 00:00:59,040 Speaker 2: talking about a tight labor market as a reason wait 20 00:00:59,160 --> 00:01:02,320 Speaker 2: won't cut rate. The labor market looks like it's getting tighter, 21 00:01:02,800 --> 00:01:05,800 Speaker 2: puts plenty of focus on next week's December quarter inflation data. 22 00:01:05,800 --> 00:01:08,080 Speaker 2: If the underlying rate of inflation is significantly above the 23 00:01:08,120 --> 00:01:11,040 Speaker 2: Reserve banks two to three percent target range, then Michael 24 00:01:11,080 --> 00:01:13,280 Speaker 2: Alas in eleven days time, we're probably going to get 25 00:01:13,280 --> 00:01:14,160 Speaker 2: a rate hike. 26 00:01:14,680 --> 00:01:17,760 Speaker 1: At four point one percent. Sean, The unemployment rate is 27 00:01:17,760 --> 00:01:22,039 Speaker 1: at its lowest since May of last year, near historical lows. 28 00:01:22,120 --> 00:01:25,440 Speaker 1: But my question for you, is the economy really traveling 29 00:01:25,800 --> 00:01:28,600 Speaker 1: well enough to be creating that many new jobs. 30 00:01:28,959 --> 00:01:32,000 Speaker 2: It's hard not to be slightly skeptical about the December number. 31 00:01:32,000 --> 00:01:34,960 Speaker 2: If you're taking the average over the past half year, 32 00:01:35,280 --> 00:01:38,600 Speaker 2: then there's about seventeen thousand new jobs per month. That 33 00:01:38,640 --> 00:01:41,720 Speaker 2: should mean the unemployment rates about unchanged now. The Bureau 34 00:01:42,120 --> 00:01:44,480 Speaker 2: said the unemployment rate fell because of things like a 35 00:01:44,560 --> 00:01:47,960 Speaker 2: jump in our's works underemployment, more fifteen to twenty four 36 00:01:48,040 --> 00:01:50,880 Speaker 2: year olds shifting into the workforce that pushed up employment growth. 37 00:01:51,840 --> 00:01:54,040 Speaker 2: Reserve Bank reckons unemployment rate should be about four and 38 00:01:54,080 --> 00:01:58,160 Speaker 2: a half percent. Oh, look, bringing you back to interest rates, Really, 39 00:01:58,240 --> 00:02:00,880 Speaker 2: it all depends on next week's inflation fear Okay. 40 00:02:01,160 --> 00:02:04,000 Speaker 1: On destory number two, the federal coalition has split for 41 00:02:04,040 --> 00:02:06,280 Speaker 1: the second time this year on the back of the 42 00:02:06,400 --> 00:02:09,519 Speaker 1: Nationals front bench, quitting the shadow cabinet on Wednesday night. 43 00:02:09,880 --> 00:02:13,160 Speaker 1: Liberal Party leader Susan Lee is now under a lot 44 00:02:13,200 --> 00:02:16,079 Speaker 1: of pressure, not just to reconvene the coalition, to keep 45 00:02:16,120 --> 00:02:18,519 Speaker 1: all of that together, but just to keep her job. 46 00:02:18,880 --> 00:02:21,760 Speaker 2: Yeah, exactly yesterday morning, That's leader David little Proud said 47 00:02:21,760 --> 00:02:24,080 Speaker 2: the tie up with the Liberal Party was untenable and 48 00:02:24,120 --> 00:02:27,040 Speaker 2: accused Lee of mismanaging the relationship. He then left open 49 00:02:27,040 --> 00:02:31,160 Speaker 2: the possibility of reunification if she were replaced. Now this 50 00:02:31,240 --> 00:02:34,480 Speaker 2: morning meet he's reporting unidentified sources within the libs ays 51 00:02:34,480 --> 00:02:37,840 Speaker 2: saying Lee has to go. Neither the Lives nor the 52 00:02:37,960 --> 00:02:41,760 Speaker 2: Nats can form government on their own. Of course, coalitions necessary. 53 00:02:42,040 --> 00:02:45,160 Speaker 2: Former Liberal PM Malcolm Turnbull waded into the debate. He 54 00:02:45,240 --> 00:02:48,519 Speaker 2: said the split made the conservative side of politics more 55 00:02:48,560 --> 00:02:51,760 Speaker 2: unelectable than they were before. This all started on Sunday night, 56 00:02:51,760 --> 00:02:54,680 Speaker 2: when members of the coalition agreed to support the government's 57 00:02:54,680 --> 00:02:57,919 Speaker 2: hate speech and gun legislation with amendments. Amendments were made, 58 00:02:58,240 --> 00:03:01,680 Speaker 2: three natsvated against it. Lee basically told those three they 59 00:03:01,680 --> 00:03:05,040 Speaker 2: had to resign from the shadow cabinet, and they resigned. 60 00:03:05,160 --> 00:03:08,560 Speaker 2: Rest of the Nets followed just a mess at the moment, Michael. 61 00:03:08,520 --> 00:03:11,360 Speaker 1: Yeah, story number three. The share price of Northern Star, 62 00:03:11,440 --> 00:03:15,280 Speaker 1: which is Australia's biggest gold miner, tumbled eight percent yesterday, 63 00:03:15,560 --> 00:03:19,040 Speaker 1: not only because of falling prices, but also a dispute 64 00:03:19,200 --> 00:03:22,079 Speaker 1: between the CEO and investors escalating. 65 00:03:22,400 --> 00:03:25,040 Speaker 2: Yeah. So generally CEOs do their best to plicate or 66 00:03:25,040 --> 00:03:27,959 Speaker 2: at least tolerate investors and analysts, but Northern Stars Stuart 67 00:03:28,040 --> 00:03:31,640 Speaker 2: Tonkin is clearly getting frustrated with the investment community. Yesterday 68 00:03:31,639 --> 00:03:37,120 Speaker 2: he accused investors of focusing on minucha. Oh what's that word, minusha? 69 00:03:37,280 --> 00:03:40,640 Speaker 2: It's a hard one, focusing on minuet after his performance 70 00:03:40,760 --> 00:03:43,560 Speaker 2: and disclosure standards were called into question during a fiery 71 00:03:43,560 --> 00:03:47,000 Speaker 2: call with analysts. This all occurred before the market opened, 72 00:03:47,880 --> 00:03:51,160 Speaker 2: a bit of a stoush market opened, three billion dollars 73 00:03:51,160 --> 00:03:54,440 Speaker 2: wiped off the value of Northern Star. Basically, Tonkin didn't 74 00:03:54,480 --> 00:03:57,920 Speaker 2: answer analyst questions to their satisfaction and they sold the 75 00:03:58,000 --> 00:04:00,760 Speaker 2: company down. Having said that Northern Star had a great run, 76 00:04:00,800 --> 00:04:03,000 Speaker 2: hit a record higher earlier this week, so it's not 77 00:04:03,040 --> 00:04:05,680 Speaker 2: a disaster for shareholders. But you just don't often see 78 00:04:05,960 --> 00:04:11,480 Speaker 2: investors or slash shareholders and CEOs ad odds, so clearly yeah. 79 00:04:11,640 --> 00:04:14,760 Speaker 1: Story number four. US President Donald Trump has backed down 80 00:04:14,840 --> 00:04:18,080 Speaker 1: on threats to take Greenland by force and on promises 81 00:04:18,120 --> 00:04:21,360 Speaker 1: to impose new tariffs on European countries after he said 82 00:04:21,400 --> 00:04:24,840 Speaker 1: the parties involved had reached a and I quote framework 83 00:04:24,880 --> 00:04:25,839 Speaker 1: of a future deal. 84 00:04:26,120 --> 00:04:28,360 Speaker 2: The comments were a relief to financial markets, with Wall 85 00:04:28,400 --> 00:04:30,840 Speaker 2: Street rallying and the price of gold falling. After speaking 86 00:04:30,880 --> 00:04:34,400 Speaker 2: in Davos and sharply criticizing the heads of two NATO countries, 87 00:04:34,440 --> 00:04:37,120 Speaker 2: Canada's Mark Carney and france as Emanuel mcron, Trump on 88 00:04:37,160 --> 00:04:40,080 Speaker 2: social media said he had had a very productive meeting 89 00:04:40,080 --> 00:04:43,279 Speaker 2: with the Secretary General of NATO, Mark Rutt. He said 90 00:04:43,279 --> 00:04:45,680 Speaker 2: a framework of a future deal with respect to Greenland 91 00:04:45,680 --> 00:04:48,800 Speaker 2: and the entire Arctic region had been formulated. Now the 92 00:04:48,839 --> 00:04:52,039 Speaker 2: announcement de escalated tensions between Europe and the US, and 93 00:04:52,160 --> 00:04:54,840 Speaker 2: in markets, that's kind of unclear what it actually means 94 00:04:54,839 --> 00:04:56,480 Speaker 2: for Greenland and the NATO alliance. 95 00:04:57,120 --> 00:04:59,640 Speaker 1: Finally, storry number five, This is a great story. Sean 96 00:05:00,040 --> 00:05:03,760 Speaker 1: stenciled outline of a hand found on the Indonesian island 97 00:05:03,760 --> 00:05:07,880 Speaker 1: of Sulawesi is the world's oldest known cave painting. Researcher 98 00:05:07,920 --> 00:05:10,359 Speaker 1: say It shows a red outline of a hand whose 99 00:05:10,400 --> 00:05:13,239 Speaker 1: fingers were changed to create a claw like motif. 100 00:05:13,640 --> 00:05:16,039 Speaker 2: The painting has been dated to at least sixty seven 101 00:05:16,480 --> 00:05:19,080 Speaker 2: eight hundred years ago. That's about eleven hundred years before 102 00:05:19,120 --> 00:05:23,560 Speaker 2: the previous record, which was a handstencil in Spain. According 103 00:05:23,600 --> 00:05:26,360 Speaker 2: to BBC, the fine strengthens the argument that our species, 104 00:05:26,400 --> 00:05:29,800 Speaker 2: Homo sapiens, reached the wider Australian New Guinea land mass 105 00:05:30,200 --> 00:05:34,839 Speaker 2: around fifteen thousand years earlier than some researchers argued. Professor 106 00:05:34,880 --> 00:05:38,039 Speaker 2: Adam Brum of Griffith's University here in Australia, who co 107 00:05:38,120 --> 00:05:41,160 Speaker 2: led the project, told BBC News that the latest discovery 108 00:05:41,160 --> 00:05:44,800 Speaker 2: published in Nature adds to the emerging view that there's 109 00:05:44,839 --> 00:05:47,960 Speaker 2: now a weakening for humanity in Europe. Instead, creativity was 110 00:05:48,000 --> 00:05:51,360 Speaker 2: innate to our species, the evidence for which stretches back 111 00:05:51,400 --> 00:05:52,760 Speaker 2: to Africa, where we evolved. 112 00:05:53,320 --> 00:05:55,560 Speaker 1: All right, there we go, the top five business stories 113 00:05:55,560 --> 00:05:56,279 Speaker 1: in five minutes. 114 00:05:56,360 --> 00:05:57,839 Speaker 2: Thank you, Sean, Thanks Michael. 115 00:05:58,000 --> 00:06:00,960 Speaker 1: It's Friday, the twenty third of January twenty twenty six. 116 00:06:01,360 --> 00:06:03,919 Speaker 1: Remember to hit follow on the podcast Andy. Five minutes 117 00:06:03,960 --> 00:06:06,320 Speaker 1: isn't enough. You're gonna find our longer daily show called 118 00:06:06,360 --> 00:06:09,240 Speaker 1: fear and greed wherever you listen to podcasts, I'm Michael 119 00:06:09,240 --> 00:06:11,279 Speaker 1: Thompson and that was the Fast five Business news by 120 00:06:11,320 --> 00:06:15,640 Speaker 1: fear and great had a great day.